Short Interest in Annexon, Inc. (NASDAQ:ANNX) Increases By 27.7%

Annexon, Inc. (NASDAQ:ANNX) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 2,490,000 shares, an increase of 27.7% from the February 29th total of 1,950,000 shares. Based on an average trading volume of 1,630,000 shares, the days-to-cover ratio is presently 1.5 days.

Annexon Stock Down 8.2 %

Shares of ANNX stock opened at $7.17 on Monday. The company has a 50 day moving average price of $5.40 and a 200-day moving average price of $3.73. Annexon has a 52 week low of $1.57 and a 52 week high of $8.40. The firm has a market capitalization of $381.73 million, a PE ratio of -4.03 and a beta of 1.10.

Insider Buying and Selling

In related news, CEO Douglas Love sold 5,782 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $5.54, for a total value of $32,032.28. Following the completion of the transaction, the chief executive officer now directly owns 196,121 shares in the company, valued at approximately $1,086,510.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 8,940 shares of company stock worth $49,514 in the last three months. 19.11% of the stock is owned by corporate insiders.

Institutional Trading of Annexon

A number of large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in shares of Annexon by 31.3% in the first quarter. Tower Research Capital LLC TRC now owns 7,992 shares of the company’s stock worth $31,000 after acquiring an additional 1,903 shares during the period. Bank of America Corp DE grew its position in Annexon by 29.7% during the fourth quarter. Bank of America Corp DE now owns 8,938 shares of the company’s stock valued at $46,000 after buying an additional 2,049 shares during the period. Citigroup Inc. grew its position in Annexon by 3.2% during the first quarter. Citigroup Inc. now owns 83,074 shares of the company’s stock valued at $320,000 after buying an additional 2,565 shares during the period. SG Americas Securities LLC grew its position in Annexon by 14.1% during the fourth quarter. SG Americas Securities LLC now owns 25,335 shares of the company’s stock valued at $115,000 after buying an additional 3,123 shares during the period. Finally, Forefront Analytics LLC grew its position in Annexon by 18.3% during the third quarter. Forefront Analytics LLC now owns 31,680 shares of the company’s stock valued at $75,000 after buying an additional 4,890 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ANNX shares. Bank of America lifted their target price on shares of Annexon from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised shares of Annexon from a “neutral” rating to an “overweight” rating and set a $11.00 target price for the company in a report on Friday, March 1st. Wells Fargo & Company lifted their target price on shares of Annexon from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 target price on shares of Annexon in a report on Wednesday, March 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Annexon in a report on Wednesday, March 27th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $14.14.

About Annexon

Annexon, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for autoimmune, neurodegenerative, and ophthalmic disorders. The company's C1q is an initiating molecule of the classical complement pathway that targets distinct disease processes, such as antibody-mediated autoimmune disease and complement-mediated neurodegeneration.